The IMF and Europe

The Irish economy has got back on its feet, and its main task is to keep its stance solid by completing the recovery and spreading its fruits among the population. IMF News sat down with Zuzana Murgasova, mission chief for the annual economic assessment, and Daniel Hardy, mission chief for the periodic financial stability assessment, to discuss the economic performance and outlook of the country.

Recovery in the euro area has strengthened, but the medium-term outlook remains weak and is endangered by a lack of collective action to address common challenges. Members must rebuild faith in the monetary union, says the IMF in its latest review of the currency union.

Economic growth has consistently been near the top among major advanced economies, the employment rate has risen to a record high, the fiscal deficit has been reduced, and major financial sector reforms have been adopted, the report notes.